Telsey Advisory Group Lowers Traeger (NYSE:COOK) Price Target to $1.50

Traeger (NYSE:COOK) had its target price cut by investment analysts at Telsey Advisory Group from $1.75 to $1.50 in a report issued on Thursday, Marketbeat reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 84.50% from the stock’s current price.

Several other research firms also recently commented on COOK. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research report on Tuesday, October 14th. Royal Bank Of Canada dropped their price objective on Traeger from $1.50 to $1.25 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Wall Street Zen cut Traeger from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, B. Riley downgraded shares of Traeger from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $1.50 in a research note on Wednesday, August 13th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $2.09.

Traeger Trading Down 5.7%

Shares of Traeger stock opened at $0.81 on Thursday. Traeger has a 52-week low of $0.77 and a 52-week high of $3.43. The firm has a market capitalization of $110.48 million, a PE ratio of -1.03 and a beta of 1.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.92 and a quick ratio of 1.38. The company’s fifty day moving average price is $1.15 and its two-hundred day moving average price is $1.44.

Traeger (NYSE:COOK) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Traeger had a negative return on equity of 10.39% and a negative net margin of 18.01%.The business had revenue of $125.40 million for the quarter, compared to the consensus estimate of $111.04 million. Traeger has set its FY 2025 guidance at EPS. On average, analysts expect that Traeger will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Traeger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norden Group LLC raised its stake in shares of Traeger by 27.2% in the second quarter. Norden Group LLC now owns 23,350 shares of the company’s stock worth $40,000 after acquiring an additional 5,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Traeger in the second quarter valued at approximately $57,000. Bank of America Corp DE raised its position in Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after purchasing an additional 8,933 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Traeger in the 2nd quarter worth approximately $93,000. Finally, Williams & Novak LLC lifted its holdings in Traeger by 46.3% during the 3rd quarter. Williams & Novak LLC now owns 81,300 shares of the company’s stock worth $99,000 after buying an additional 25,730 shares in the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

About Traeger

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.